Thanks to Strong Synergy with SIG, Semen Baturaja Achieves idA+ Rating from Pefindo

JAKARTA – PT Pemeringkat Efek Indonesia (Pefindo) raised the rating of PT Semen Baturaja Tbk (SMBR) as a subsidiary of PT Semen Indonesia (Persero) Tbk (SIG) from previously IdA to idA+ with a stable outlook. This rating indicates that SMBR  has strong capabilities with a conservative financial profile and continuously improving business performance.

Pefindo gives an idA+ rating to companies with the stock code (IDX:SMBR) based on a comprehensive evaluation of financial performance, risk management, as well as a strong position in the market and support from parent company SIG. The ranking was obtained based on company data and information as well as audited financial reports as of December 31, 2023.

SMBR Main Director, Suherman Yahya said he was proud of this achievement. “We are very proud to receive the IdA+ rating from Pefindo. “This is proof of our commitment to continue to improve performance and maintain product quality, as well as maintain the trust of stakeholders amidst competitive cement industry market conditions,” he said.

Furthermore, Suherman added that this achievement cannot be separated from the hard work of the entire team as well as support from shareholders and business partners.

“We will continue to focus on a sustainable growth strategy to ensure that Semen Baturaja remains a major player in the cement industry, especially in the Sumbagsel (Southern Sumatra) market,” he added.

This ranking is also inseparable from synergy with SIG holding, which provides strong support in various operational and strategic marketing aspects.

In 2023, SMBR managed to record revenue throughout 2023 of IDR 2.04 trillion or an increase of 8% compared to last year’s period of IDR 1.88 trillion. In terms of EBITDA, it was recorded at IDR 484.87 billion or an increase of 13% compared to 2022 which was IDR 430.45 billion. (*)